Spain Gazettes Laws Implementing Digital Services Tax, Financial Transactions Tax

The Spanish Official Gazette Oct. 16 published Laws Nos. 4/2020 and 5/2020, implementing a digital services tax and a financial transactions tax. The laws include measures: 1) introducing a 3 percent digital services tax on the Spanish revenue of large companies with an annual global revenue over 750 million euros (US$879 million) and annual domestic revenue over 3 million euros (US$3.51 million) engaged in digital advertising, certain online platforms, or the sale of user data; 2) levying a 0.2 percent financial transaction tax on the acquisition of shares of Spanish companies with market capitalization over 1 billion euros (US$1.1 billion); ...